Q: Can my friend regain control of his own money?
He has cerebral palsey but had always handled his own money, maunly stock holdings given by his father. His father and mother have passed, his sister and bro in law now control his money in a trust. He has grown unhappy with this arrangement. Can he regain control over his money, apparently between one and two million dollars? His brother in law is super cheap with him, he is sick of it thank you.
A: This question requires much more information to give a good answer. 1. it depends what type of trust. is it revocable, irrevocable, is it a special needs trust? 2. is your friend on government benefits? if so he would not want to have control over the assets as he would likely be disqualified from certain government benefits he is receiving. 3. is there a successor trustee appointed for the trust? If so, would he like them better? 4. is there a reason brother is being "cheap"? Possibly to avoid disqualifying him from government benefits.
A lot of time people get frustrated with Trustees who are trying to do their job correctly and other just arent aware of the limitations that a Trustee has. However, if the brother truly is not doing a prudent job providing for your friend under the terms of the trust, your friend can always petition the probate court to appoint a new trustee- however it should always be a last resort to get the courts involved in something that can be handled and kept private.
consult a local probate litigation attorney for information specific to your situation.
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